The Housing Market Stays Strong Despite The Covid-19 Crisis
We all have unanswered questions caused by COVID-19 and the economic instability we are experiencing across the country. You may be wondering, as many are, if the housing market is in trouble. For homeowners who remember 2008 and the following recession, it is logical a logical question to ask. Many families experienced financial hardships, lost their homes, and were unemployed during the Great Recession – the recession that began with a housing and mortgage crisis. Today, we are faced with very different circumstances: an international health crisis that has forced a pause in most of the economy and a major shutdown throughout the country. So, let’s look at five comparables we know about today’s housing market, and how they were different in 2008. 1. Appreciation When we look at appreciation in the image below, there’s a huge difference between the 6 years prior to the housing crash and the most recent 6-year period of time. Leading up to the crash, we had much highe
